hackers becoming smarter than exchanges? - page 14.

ziac

copper member

Activity: 140

Merit: 1

”Decentralized Digital Billboards”

Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

Scammers will do anything to find any vulnerabilities that could lead them into stealing something from someone like any exchange any vulberability small or big will be a window for scammers and hackers to steal.

jonhn772

jr. member

Activity: 280

Merit: 1

Security and Privacy Features on the Blockchain

Quote from: Nunoluck on July 12, 2018, 07:29:12 AM

This is the war of knowledge, those skilled people behind an exchanges are defends their exchanges and those hackers are try to attack. The smarter people will be win. I think most of the defenders are smarter than the attackers.

Absolutely correct that defenders is the most smarter than attackers. That's why I believe that hackers will fail to steal others peoples money from an good exchange.

gamechangers

member

Activity: 392

Merit: 10

There is no regulation in place to check these exchanges. So many of them are not worth being called an exchange at all because they are too lackadaisical and not innovative. Until these exchanges sit up, innocent people will continue to suffer these day to day hacks.

Baokali92

newbie

Activity: 99

Merit: 0

I am sure that now someone is sitting and working on in order to protect investors from fraud.Let's be patient and soon we will see the crypto world without scams

UladzimirS

newbie

Activity: 25

Merit: 0

A lot of hacks because, there are only 2 out of 260 degrees of protection key options. According to statistics, the wallets with bitcoins hacked much less frequently.

spongegar

full member

Activity: 476

Merit: 100

I think it is a cycle of sorts that makes both parties stronger and better in the long run. If both didn't try to crack the technology of the other then they would stop developing something new or better to make things more secure. I believe this has to come to be. What we could do is to eliminate human error and be responsible account holders.

Cocosoxoto

newbie

Activity: 69

Merit: 0

They sometimes use this little point and check whether our data can be compromised or not and results are mostly in their favor. Experts have devised some best practices that must be followed for a classical safety. Otherwise we would be complaining like everyone else.

KingdomHearts

hero member

Activity: 896

Merit: 514

Quote from: Pikachu12 on September 02, 2018, 11:56:49 PM

I do not think they have become smarter. I think now is the era of technology and there are many tools that can crack the tight layers of security. This has helped many hackers and security need a very optimal way to prevent hackers intrusion.

Well this is a fact that the security of coding and decoding is not a hard nut to break and this is a reality that with the passage of time, the hackers are becoming smarter and can easily spot bugs in the security system of many top companies online and offline. That is the reason people hire hackers to improve their company’s security.

In case of cryptocurrency, the blockchain technology has really proved a hard nut to crack and it is not so easy for them to get access to your wallets and all they want.

andrei56

sr. member

Activity: 840

Merit: 254

Quote from: Getcoinsite on September 02, 2018, 11:30:22 PM

Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

I don't want to jump into conclusions but what if the hacker is also the exchange?lets be realistic sometimes because we know how secured and un hackable the exchangers has been designed so i find no suitable reason why many of them are involving into hacking without good explanation

Thats why i am not confident about leaving my funds overnight in single exchange i make sure that after doing some transaction ,i take out my coins/tokens and bring back to my designated wallets for safety’s

There was a time in which there were many hacks to exchanges, there were so many that we had a hack almost every week and then some of those exchanges disappeared, to people that was a sign there was not a hack and in fact that was an exit scam and they were just trying to cover their tracks, but now after a hack the exchanges do not disappear and sometimes they try to repay their customers, in that case I think we can say the exchange was clearly hacked.

CryptoCompas

jr. member

Activity: 69

Merit: 1

There is an opinion that these hacks are the exchanges themselves, not just hackers. The information is hidden. As an example, the bithumb hack occurred in February 2017, and reported it only in June. Hacks were made repeatedly, but the exchange did not provide additional protection of the wallets of its users.

OrangeII

hero member

Activity: 2170

Merit: 503

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: Getmon on September 09, 2018, 11:40:37 PM

It is always a battle of brilliance and skills. For sure, there are so many individuals out there who are more capable than any individual hired by some exchanges. The good thing with exchanges is that they have enough resources to hire a pool of brilliant developers to counter any individual move from the outside to try hack their system. Two heads is always better than one. If the exchange is penetrated with individual attacks from without, it would definitely be blamed to the management.

Well, but so far, hackers have always been the cause, and the reason for exchangers losing their coins. yeah, that's very natural. sometimes we don't know the greatness of a hacker, and sometimes they pass our estimates.

Getmon

sr. member

Activity: 1400

Merit: 273

It is always a battle of brilliance and skills. For sure, there are so many individuals out there who are more capable than any individual hired by some exchanges. The good thing with exchanges is that they have enough resources to hire a pool of brilliant developers to counter any individual move from the outside to try hack their system. Two heads is always better than one. If the exchange is penetrated with individual attacks from without, it would definitely be blamed to the management.

Olalomi

member

Activity: 490

Merit: 12

Binance and bancor are two reputable exchanges of Cryptos they should ensure that they employs experienced cyber security experts to prevent hackers from gaining access into their system, this give credence and credibility to them and encourages more traders to use their platform and will go a long in trusting their system.

andika2018

member

Activity: 700

Merit: 10

The safest way to secure our coin and token is not keep it on exchanger wallet. After we buying coin and token in exchanger, better transfer it to wallet and make back up and keep private key or seed from others. Hackers always improving their skill and we should be not careless

shushanika

member

Activity: 102

Merit: 13

Quote from: Getcoinsite on September 02, 2018, 11:30:22 PM

Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

I don't want to jump into conclusions but what if the hacker is also the exchange?lets be realistic sometimes because we know how secured and un hackable the exchangers has been designed so i find no suitable reason why many of them are involving into hacking without good explanation

Thats why i am not confident about leaving my funds overnight in single exchange i make sure that after doing some transaction ,i take out my coins/tokens and bring back to my designated wallets for safety’s

You bring up a good point, nowadays there are so many exchanges, not everyone should be trusted. In the history there were several exchanges that closed down and run away...last year there was a hack on Etherdelta and many believed it was an inside job...the companies owners sold the platform...and just when it changed hands...hacked

Eijrafarm

newbie

Activity: 224

Merit: 0

I think that many hackers started to breach the security system of many exchanges this is why exchanges started to implement KYC system to protect every exchange that involve in crypto.

efxtrader

full member

Activity: 924

Merit: 100

GoMeat - Digitalizing Meat Stores - ICO

Hackers always find a way to stole crypto in exchange. If we have plan to keep our crypto for long term, its better to transfer our crypto to our own wallet not exchange wallet. Beside that, to secure our account, we should use 2FA

leavolnhals

full member

Activity: 770

Merit: 101

I do not think that. Because there are many other applications that help hackers to easily penetrate the security layers of the trading platform. So the trading floors are vulnerable to attack. So I hope we should invest and trade on some major exchanges to be safer.

Fendi23

member

Activity: 322

Merit: 15

I think the exchange must be in extra security for transaction because it will the investor comfortable

ocid

sr. member

Activity: 588

Merit: 256

Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

sometimes hackers are more geniuses and they can do anything to take the assets of others, their cunning intentions have been carefully thought out by studying weaknesses in various exchanges. This is not strange anymore, even though the exchange market has extra security without them knowing there is always someone who is greedy by using his intelligence to do everything that can harm others.

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